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Galloping inflation: Turkey raises energy prices drastically

2022-01-01T09:35:55.227Z

Electricity price increases by 50 percent for households, in some cases even by 100 percent for industry: At the turn of the year, energy prices in Turkey shot up dramatically - by order of the state.



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Electricity prices doubled in some cases: the Turkish lira continues to lose value

Photo: YASIN AKGUL / AFP

In Turkey, energy prices have risen dramatically for the New Year.

The country, which is already plagued by inflation, is raising electricity prices for households by 50 percent and for high-consumption companies by more than 100 percent, explained the responsible supervisory authority.

The gas prices will also continue to rise, as the state utility BOTAS announced.

Households pay 25 percent more in January, companies 50 percent more.

Gas for power generation will be 15 percent more expensive.

more on the subject

  • Economic crisis in Turkey: "We have never been as desperate as we are now" By Anna-Sophie Schneider, Maximilian Popp and Sebnem Arsu

  • Turkish opposition leader Kılıçdaroğlu: "People can feel firsthand that they are not being governed well" An interview by Sebnem Arsu and Maximilian Popp

Turkey has been struggling with economic turmoil and a rapid drop in the lira for months. The government of President Erdoğan is cracking down on critics of its economic policy: Most recently, the Turkish banking supervisory authority had filed criminal charges against former central bank governors, journalists and economists who had commented on the economic downturn on Twitter. According to the allegation, they are said to have influenced the course of the lira with their contributions.

him / Reuters

Source: spiegel

All business articles on 2022-01-01

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